Credit Suisse lowers the Norske Skog recommendation.

February 3, 2010 by timbercommunity

Analyst L. Kjellberg of Credit Suisse continues to be negative to the newsprint market and lowers the recommendation of Norske skog to under perform from neutral Tuesday. At the same time lowered price target from 10.9 NOK to 8.30 NOK in advance of the company's report on Thursday. The European newsprint prices fell nearly 20 percent in 2010 contracts from Credit Suisse estimates of a drop of 11 percent.